Xenophon opposes petrol station mergers

first_img Facebook Twitter: @NeosKosmos Instagram Independent Senator for South Australia Nick Xenophon has expressed his opposition to a proposed merger between Mobil and Caltex. Caltex – Woolworth plans to takeover Mobil’s 302 petrol stations. Mr Xenophon argues that this would create a petrol station oligopoly with the new company controlling 44 percent of the market, which could result in higher prices for consumers. “It will put motorists literally under the pump,” Mr Xenophon said in Canberra, according to media reports. “It’s anyone’s guess how high prices could go up, but several cents a litre wouldn’t be out of the question,” he added. The Independent Senator called for the government to intervene through the Australian Competition and Consumer Commission to stop the proposed takeover.last_img

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